银河期货花生日报-20251029

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The price of peanuts in Henan continued to decline, while that in the Northeast remained stable. The price of imported peanuts was stable. It is expected that the peanut spot will be relatively weak in the short term [4]. - The price of peanut oil was stable, and the peanut meal was also stable recently. The theoretical profit of oil - mill crushing was acceptable [8]. - The 01 and 05 peanut futures are in a low - level oscillation, and the far - month peanuts may be stronger. The new - season peanut output is expected to be higher than last year, and the 01 peanut will still oscillate weakly [8]. 3. Summary by Directory First Part: Data - Futures Disk - PK604 closed at 7932, up 16 (0.20%), with a trading volume of 229 (down 24.17%) and an open interest of 1,809 (down 1.26%) [2]. - PK510 closed at 8152, up 16 (0.20%), with a trading volume of 19 (up 58.33%) and an open interest of 431 (up 1.41%) [2]. - PK601 closed at 7822, up 16 (0.20%), with a trading volume of 68,448 (up 29.61%) and an open interest of 175,747 (down 1.98%) [2]. - Spot and Basis - Spot prices in Henan Nanyang, Shandong Jining, and Shandong Linyi were 7200, 8400, and 8400 respectively. The price of Rizhao peanut meal was 3250, and that of Rizhao soybean meal was 2970. The price of peanut oil was 14580, and that of Rizhao first - grade soybean oil was 8270 [2]. - The price of Henan Nanyang peanuts dropped by 1400, and the price of Rizhao soybean meal dropped by 20, and the price of Rizhao first - grade soybean oil dropped by 100 [2]. - The basis of Henan Nanyang peanuts was - 622, and that of Shandong Jining and Linyi was 578. The difference between soybean meal and peanut meal was - 1, and the difference between peanut oil and soybean oil was 6310 [2]. - Import Price - The price of Sudan peanuts was 8500, and the price of Senegalese peanuts remained unchanged [2]. - Spread - The spread of PK01 - PK04 was - 110 (unchanged), PK04 - PK10 was - 220 (unchanged), and PK10 - PK01 was 330 (unchanged) [2]. Second Part: Market Analysis - In the Northeast, the price of 308 common peanuts in Fuyu, Jilin was 4.1 yuan/jin, and that in Changtu, Liaoning was 4.1 yuan/jin, both remaining stable. In the Henan production area, the price of Baisha common peanuts was 3.35 - 3.5 yuan/jin, down 0.1 yuan/jin. The price of peanuts in Junan, Shandong was 4.0 yuan/jin, remaining stable. The price of imported Brazilian new peanuts was 9200 yuan/ton, and that of Indian specification peanuts 50/60 was 8000 yuan/ton, both remaining stable [4]. - Some peanut oil mills started to purchase, with the mainstream transaction price at 7800 - 7900 yuan/ton, and the theoretical break - even price of oil mills was 7920 yuan/ton. The price of soybean oil and peanut oil remained stable, with domestic first - grade ordinary peanut oil at 14500 yuan/ton and small - pressed fragrant peanut oil at 16500 yuan/ton [4]. - The spot price of Rizhao soybean meal was relatively strong at 2970 yuan/ton. The unit - protein spread between peanut meal and soybean meal was relatively high, and peanut meal was relatively weak in the short term, with the 48 - protein peanut meal quoted at 3200 yuan/ton [6]. Third Part: Trading Strategies - Unilateral - Peanuts 01 and 05 are in a low - level oscillation. It is advisable to wait and see [9]. - Monthly Spread - Wait and see [10]. - Options - Hold the sold pk601 - P - 7600 [11]. Fourth Part: Relevant Attachments - The report includes six figures, namely the spot price of Shandong peanuts, the profit of peanut oil mills, the price of peanut oil, the basis between peanut spot and continuous contracts, the spread between peanut 10 - 1 contracts, and the spread between peanut 1 - 4 contracts [13][20][23]